There are people that are really good at coming up with new and fresh ideas, but don’t know the steps to take to get them developed and promoted. If they would take the time to learn how to patent an idea, the rewards could be plentiful. You need to get your new invention ideas off the ground and let others know you were the first one to think of it. When filing a patent, the first one to act on an idea is usually credited with the patent.
An idea patent will not be granted just on your brainstorm; you must be able to demonstrate how it works. An invention can be an idea as long as it can be made into a tangible product. The process of taking a product from concept to market is filled with obstacles.
Not taking into account the time and resources needed, can lead to frustrations as you try to gain momentum. Make it easier for yourself by getting assistance from professionals that have experience in promoting the patenting ideas of inventors to manufacturing companies.
Submit Your Idea
The United States is the only country that gives credit to the first to invention versus the first to file. While you are try to determine if you have something, the biggest risk is someone beating you to the punch.
You have to be able to explain your idea and submit it to the company that knows how to patent an idea. Idea people know what they want in their minds, but it can be difficult to make a presentation to others. You need it to be professional enough to impress corporations, investors, and potential partners.
Once you learn how to patent an idea, you may want to share with others that you have applied for a patent with the USPTO. However, be careful and leery with the information you disclose before the priority date has been established. When you patent an idea, do not disclose the invention or information to anyone you don’t completely trust. Avoid working with people who aren’t trustworthy and only share the necessary aspects on a “need to know” basis.
When To Apply For A Patent
Patenting an idea should be considered at the proper time. This is not necessarily at the beginning of the idea process. At this point, we want to find out the marketability or profitability of the potential product and if it’s worth it to invest our time, energy, and finances. This can allow you to cut losses if the idea is deemed too risky to pursue.
A common misunderstanding of how to patent an idea is that once you have been granted a patent the money will be rolling in. You have gone through this complicated patent application process , hired patent attorneys or patent agents, and paid costly fees. The truth is only a small percentage of patents earn a profit.
Secure A License Agreement
A licensing agreement is a contract between two parties that doesn’t actually transfer the rights. When a manufacturer takes a license from an inventor, this agreement stands by itself from the patent. Royalties must be paid for the duration of the contract for this type of patent licensing. The things to consider for licensing of invention ideas would be up-front payments, exclusive or non-exclusive license, and the royalty rate.
If you are an inventor, then learning how to patent an idea can assist you in seeing an idea from conception to market. There are many companies that are involved in getting the word out for inventors. You can do this on your own, but experienced professionals can help patent your idea by presenting it to others.